Access Bank Ghana Reports Strong Half-Year Financial Performance with 65.4% Growth in Profit Before Tax
Access Bank Ghana has announced robust financial results for the first half of 2023, reporting a significant growth of 65.4% in its profit before tax. The bank achieved a profit before tax of GH¢514.2 million during the first six months of the year, compared to GH¢310.8 million for the same period in 2022. This remarkable performance follows the recovery from a debt exchange program observed in 2022.
The bank’s commitment to supporting the immediate recovery and long-term growth of the real sector of the economy is evident in its substantial increase in loans and advances to the private sector. Advances experienced a growth of 28.2%, reaching GH¢2,007 million in June 2023, up from GH¢1,566 million in the same period of the previous year. Additionally, Access Bank Ghana’s total assets exhibited substantial growth, rising from GH¢8,602 million to GH¢10,369 million over the same period.
Olumide Olatunji, the Managing Director of Access Bank Ghana Plc, attributed the bank’s strong performance to sound financial discipline, astute management, and strategic decision-making. He commended the board, management, and staff for their unwavering commitment to the bank’s success.
Access Bank Ghana’s achievements have garnered recognition from esteemed institutions. The bank has been honored with the Best Bank in Ghana award by the Euromoney Awards and Best Bank by Global Finance Magazine in 2023. Moreover, Global Brands Magazine recognized Access Bank as the Best Retail, SME, and CSR Bank. The World Economic Magazine Awards also acknowledged Access Bank’s excellence in CSR and Retail Banking. Locally, the bank was awarded Best Company in Employee Safety, Security, Management, and Data Security Management Practices in 2023 by HESS Awards.
With its remarkable growth in profit, loans, and total assets, Access Bank Ghana has solidified its position as a leader in the financial sector. The bank’s steadfast performance serves as an inspiring example of proactive and strategic decision-making. Access Bank remains dedicated to delivering a comprehensive banking experience to its shareholders, customers, and staff.
Operating across 18 countries, including the UAE, UK, and France, and with representative offices in China, India, and Lebanon, Access Bank Ghana continues to extend its presence through a network of over 700 branches and service outlets.